Breaking: BB&T Corporation Stock Is An 52-Week High Flier

November 30, 2016November 30, 2016Marie Mckinney

The stock of BB&T Corporation (NYSE:BBT) hit a new 52-week high and has $47.08 target or 5.00% above today’s $44.84 share price. The 5 months bullish chart indicates low risk for the $36.48B company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $47.08 price target is reached, the company will be worth $1.82B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 409,770 shares traded hands. BB&T Corporation (NYSE:BBT) has risen 22.13% since April 27, 2016 and is uptrending. It has outperformed by 16.90% the S&P500.

Analysts await BB&T Corporation (NYSE:BBT) to report earnings on January, 19. They expect $0.73 EPS, up 7.35% or $0.05 from last year’s $0.68 per share. BBT’s profit will be $593.90 million for 15.36 P/E if the $0.73 EPS becomes a reality. After $0.76 actual EPS reported by BB&T Corporation for the previous quarter, Wall Street now forecasts -3.95% negative EPS growth.

BB&T Corporation (NYSE:BBT) Ratings Coverage

Out of 21 analysts covering BB&T Corp (NYSE:BBT), 8 rate it a “Buy”, 3 “Sell”, while 10 “Hold”. This means 38% are positive. $46 is the highest target while $35 is the lowest. The $40.43 average target is -9.83% below today’s ($44.84) stock price. BB&T Corp has been the topic of 36 analyst reports since July 17, 2015 according to StockzIntelligence Inc. The rating was upgraded by Suntrust Robinson to “Outperform” on Monday, May 16. On Friday, September 23 the stock rating was maintained by CLSA with “Outperform”. The firm has “Market Perform” rating given on Tuesday, November 15 by BMO Capital Markets. As per Monday, March 28, the company rating was downgraded by Piper Jaffray. The stock of BB&T Corporation (NYSE:BBT) has “Neutral” rating given on Monday, July 11 by Robert W. Baird. The stock has “Hold” rating given by Sandler O’Neill on Wednesday, June 29. Barclays Capital maintained it with “Equal Weight” rating and $43 target price in Friday, October 16 report. The stock of BB&T Corporation (NYSE:BBT) has “Neutral” rating given on Thursday, August 27 by SunTrust. The rating was upgraded by FIG Partners to “Outperform” on Tuesday, May 10. The company was downgraded on Thursday, April 7 by Raymond James.

According to Zacks Investment Research, “BB&T Corporation is a multi-bank holding company. The company offers full-service commercial and retail banking and additional financial services such as insurance, corporate finance, international banking, leasing and trust. BB&T conducts its operations in North Carolina, South Carolina, Virginia, Maryland, Georgia, West Virginia, Kentucky and the metropolitan Washington, D.C. area.”

Insitutional Activity: The institutional sentiment decreased to 1.35 in Q2 2016. Its down 0.04, from 1.39 in 2016Q1. The ratio turned negative, as 61 funds sold all BB&T Corporation shares owned while 199 reduced positions. 60 funds bought stakes while 301 increased positions. They now own 504.84 million shares or 2.16% more from 494.14 million shares in 2016Q1.
Ftb Advisors last reported 0.01% of its portfolio in the stock. Thrivent For Lutherans accumulated 530,160 shares or 0.09% of the stock. Nomura Asset Mngmt Commerce Limited holds 0.07% or 101,390 shares in its portfolio. Moreover, Associated Banc has 0.26% invested in BB&T Corporation (NYSE:BBT) for 114,030 shares. Pggm reported 547,546 shares or 0.1% of all its holdings. Mcmillion Capital Mngmt Inc has invested 2.03% of its portfolio in BB&T Corporation (NYSE:BBT). Culbertson A N And accumulated 42,753 shares or 0.56% of the stock. 1832 Asset Limited Partnership last reported 277,930 shares in the company. Invest Mngmt Of Virginia Ltd, a Virginia-based fund reported 93,393 shares. Teachers Retirement System Of The State Of Kentucky has invested 0.05% of its portfolio in BB&T Corporation (NYSE:BBT). Cobblestone Capital Limited Company New York last reported 7,094 shares in the company. Archford Capital Strategies Lc last reported 0.01% of its portfolio in the stock. Hancock Holdings has 75,260 shares for 0.11% of their US portfolio. Heritage Invsts Mgmt Corporation, a Maryland-based fund reported 5,759 shares. First Republic Invest Inc accumulated 0% or 11,251 shares.

Insider Transactions: Since July 25, 2016, the stock had 0 insider purchases, and 14 insider sales for $18.56 million net activity. $2.79 million worth of BB&T Corporation (NYSE:BBT) shares were sold by Brown Ricky. Shares for $412,175 were sold by Weaver David Hudson on Thursday, August 25. On Thursday, September 1 HENRY I. PATRICIA sold $38,130 worth of the stock or 1,000 shares. The insider Bible Daryl N. sold $1.69M. On Thursday, October 27 the insider FAULKNER JAMES A sold $102,783. Shares for $190,550 were sold by Bradley W Bennett. Henson Christopher L sold $2.79M worth of stock or 73,295 shares.

More recent BB&T Corporation (NYSE:BBT) news were published by: Prnewswire.com which released: “BB&T Corporation CEO to speak at Goldman Sachs U.S. Financial Services Conference” on November 30, 2016. Also Seekingalpha.com published the news titled: “BB&T Corp. – Time To Consolidate The Acquisitions” on November 23, 2016. Nasdaq.com‘s news article titled: “BB&T Corporation (BBT) Ex-Dividend Date Scheduled for November 08, 2016” with publication date: November 07, 2016 was also an interesting one.

BBT Company Profile

BB&T Corporation (BB&T), incorporated on September 24, 1968, is a financial holding company. The Firm conducts its business primarily through its bank subsidiary, Branch Banking and Trust Company (Branch Bank), and other nonbank subsidiaries. The Company’s divisions include Community Banking, Residential Mortgage Banking, Dealer Financial Services, Specialized Lending, Insurance Services, Financial Services, and Other, Treasury and Corporate. Branch Bank provides a range of banking and trust services for retail and commercial clients in its geographic markets, including small and mid-size businesses, public agencies, local governments and individuals through over 2,140 offices.